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Strive adds 1,800 BTC
Strive bought 1,800 Bitcoin for about $143 million between August 24 and August 28, lifting its total holdings to 23,156 BTC and moving it past Bullish into fifth place among publicly traded corporate Bitcoin holders.
“Strive bought another 1,800 BTC for roughly $143 million at an average price of $79,431 per coin”
The purchase was made at an average price of $79,431 per coin, and the transaction was described as part of an aggressive Bitcoin treasury strategy by CEO Matt Cole.
Bloomingbit and Decrypt both tied the latest tranche to Strive’s Nasdaq listing under the ticker ASST and to the company’s accumulation cadence.
Bloomingbit also said TD Cowen raised its price target on Strive’s ASST shares from $28 to $32 and maintained its buy rating after the buy.
Price, valuation, and timing
Decrypt said the latest tranche raised Strive’s total holdings to 23,156 BTC, worth about $1.76 billion at the reference price cited in the disclosure, and it quoted CEO Matt Cole saying the company paid an average price of $79,431 per coin.
Bloomingbit reported that ASST was trading at about $23 on the morning of August 31, up about 6% on the day, and it said the stock has gained about 165% over the past six months.
Menafn added that Strive paid an average of $79,431 per Bitcoin for the latest tranche and that holdings rose to 23,156 BTC from 21,356 BTC a week earlier.
Bloomingbit further projected that Strive would buy about 4,300 more Bitcoin in the third quarter and another 3,000 in the fourth quarter, which it said would put total holdings within reach of fourth place held by Adam Back-led Bitcoin Standard Treasury Company with about 30,000 Bitcoin.
Sector ripple and funding
The Decrypt report placed Strive’s buy alongside renewed sector accumulation, noting that Strategy broke a roughly two-month pause with a $370 million purchase and that Bitmine made its largest Ethereum buy since June.
“Strategy broke a two-month pause with a $370 million purchase”
Bloomingbit said Strategy’s holdings would exceed 845,000 Bitcoin after its $370 million purchase and that it was Strategy’s first Bitcoin purchase in about 10 weeks after it halted buying in late June to focus on raising cash.
Crypto News said Strive financed purchases through at-the-market programs using ASST common stock and SATA preferred stock, and it reported that the latest filing showed outstanding Class A common shares increased by 3.58 million during the week.
Crypto News also quoted CEO Matt Cole on X: “Strive acquired an additional 1800 BTC for $143M at an average cost of $79431 per bitcoin, bringing total holdings to ₿23156,” as the company’s Bitcoin treasury rose to 23,156 BTC.